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Mortgage Market Update
Jennifer Clemens
Clemens Mortgage Group, LLC
Tuesday, October 20, 2026
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Does refinancing make sense right now? |
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A Note From Jennifer Clemens
Happy Friday! 😎
Mortgage rates saw some pressure this week as markets reacted to ongoing global tensions and economic uncertainty. This afternoon, bond markets sold off after the Trump/Xi summit wrapped up with little progress toward easing concerns overseas, pushing Treasury yields to their highest levels since May 2025.
Temporary rate buy-downs continue to be a hot topic and help buyer's ease into their mortgage payment. Seller concessions, rate buy downs, bridge loans and strategy conversations can make a huge difference.
Also - We can now offer VantageScore options on certain loan programs in addition to traditional FICO scoring. This could be a game changer for some buyers and may even help save deals that previously may not have qualified. 🙌
If you need help running numbers or navigating a tricky scenario, I’m always just a text away!
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Hi there. This week I want to talk about a question I hear often: should I refinance my mortgage?
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Basics
When refinancing actually makes sense
Refinancing isn't always the right move—but sometimes it is. The basic idea is simple: you replace your current mortgage with a new one, ideally on better terms. That might mean a lower rate, a shorter loan term to build equity faster, or switching from an adjustable rate to a fixed one for stability. The catch is that refinancing has costs, so you need to think through whether the benefit justifies the expense and how long you plan to stay in your home. Every situation is different, which is why it's worth a conversation before you decide. I'm happy to walk through the numbers with you and show what refinancing could—and couldn't—do for your specific loan.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).
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2.
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If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.
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3.
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Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Jennifer Clemens team any time and we'll walk you through your options. |
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602-214-9048 | https://clemensmortgagegroup.com/
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